Bakersfield, CA Entrepreneur Gets SBA Loan to Buy Edible Arrangements Franchise
Need money to invest in an Edible Arrangements franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy an Edible Arrangements franchise may simply require a phone call to a local SBA banker. In 2007, Comerica Bank issued an SBA franchise loan to an entrepreneur in Bakersfield, California. Because Edible Arrangements was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.
SBA Loan Borrower
TENNEY & TENNY LLC DBA EDIBLE ARRANGEMENTS
Bakersfield, CA 93312
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722213 - Snack and Nonalcoholic Beverage Bars
Loan Approval Date
11/21/2007
Loan Approval Gross Amount
$276,000
Loan Approval from the SBA
Of the total $276,000 loan amount, the SBA guaranteed $207,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy an Edible Arrangements franchise. At the time of the loan, the company
had 2 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Comerica Bank and they will explain how you can get an SBA loan for your company.
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
Related Links:
Edible Arrangements
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Small Bank Loans in Dallas, Texas
Find an SBA Lender in Texas